In an ultimate twist of irony, new investor Darren Carter has had no choice but to list his home on the online real estate service Opendoor after blindly following famed investor Cathie Wood into the stock.
“It’s basically the Amazon of real estate,” says Carter as he packs up his possessions. “It’s a revolutionary technology where you fill out a quick form and they give you a cash offer for your house. No realtors and it’s a pretty good price considering the convenience. It’s really the future of real estate.”
Sadly for Carter he took out a second mortgage on his house in January to purchase shares of the high flying spac only to watch it careen lower with the rest of the spac markets putting him in a great than 50% hole.
“I’d say my big mistake was taking out the mortgage and then buying the shares on margin. In hindsight probably a bit too much leverage but lesson learned and I have to say Opendoor has made this process of selling my house so easy. I’ll be sad to leave it but shit happens.”
Asked what he would do differently Carter appears to hold back tears before answering. “Probably wouldn’t have bet my home. Yeah definitely that.”